PEN CD-TRANSFER POLICE SERVICE

Amends the Downstate Police, Illinois Municipal Retirement Fund (IMRF), and State Universities Articles of the Illinois Pension Code. Provides that no later than December 31, 2022, a person may transfer to a fund established under the Downstate Police Article creditable service accumulated under IMRF for service as a sheriff's law enforcement employee, person employed by a participating municipality to perform police duties, law enforcement officer employed on a full-time basis by a forest preserve district, or person employed by a participating municipality to perform administrative duties related to law enforcement. Provides that no later than 6 months after the effective date of the amendatory Act, a person may transfer to a fund established under the Downstate Police Article creditable service accumulated under the State Universities Retirement System for service as a police officer upon payment to the police pension fund of a specified amount to be determined by the board. Authorizes a person applying to transfer service under the provisions to reinstate credits and creditable service that were terminated by paying a specified amount to IMRF or the State Universities Retirement System. Makes conforming and other changes. Amends the State Mandates Act to require implementation without reimbursement. Certain changes to the Downstate Police and IMRF Articles of the Illinois Pension Code and the State Mandates Act are effective immediately. House Committee Amendment No. 1 Replaces everything after the enacting clause. Amends the Downstate Police, Illinois Municipal Retirement Fund (IMRF), and State Universities Articles of the Illinois Pension Code. Provides that no later than September 30, 2023, a person may transfer to a fund established under the Downstate Police Article creditable service accumulated under IMRF for service as a sheriff's law enforcement employee, person employed by a participating municipality or instrumentality to perform police duties, law enforcement officer employed on a full-time basis by a forest preserve district, or person employed by a participating municipality to perform administrative duties related to law enforcement. Provides that the application to transfer that credit must be made not later than June 30, 2023. Provides that no later than June 30, 2023, a person may irrevocably apply to transfer to a fund established under the Downstate Police Article creditable service accumulated under the State Universities Retirement System for service as a police officer upon payment to the police pension fund of a specified amount to be determined by the board. Makes changes to the amount the State Universities Retirement System must pay to the State Employees' Retirement System to transfer certain creditable service. Makes conforming and other changes. Amends the State Mandates Act to require implementation without reimbursement. Effective January 1, 2023. Senate Floor Amendment No. 2 Adds reference to: 40 ILCS 5/3-110.14 new 40 ILCS 5/7-139.1a new Replaces everything after the enacting clause. Reinserts the provisions of the engrossed bill with the following changes. Further amends the Downstate Police and Illinois Municipal Retirement Fund (IMRF) Articles of the Illinois Pension Code. Provides that on and after July 1, 2022 but no later than December 1, 2022, a participating employee who is actively employed as a sheriff's law enforcement employee under IMRF may make a written election to transfer up to 10 years of creditable service from a fund established under the Downstate Police Article to IMRF. Provides that to establish that service, the participating employee must either elect to pay a specified amount to IMRF or have the amount of his or her creditable service established reduced by a specified amount. Provides that in no event shall the service credit established under the provisions exceed the lesser of 10 years or the actual amount of service credit that had been earned in the police pension fund. Provides that if the amount transferred to IMRF is greater than a specified amount, the additional amount shall be credited to the account of the sheriff's law enforcement employee's employer. Effective immediately, except that certain provisions are effective January 1, 2023.